Chicago Capital LLC Acquires 5,363 Shares of Workday, Inc. (NASDAQ:WDAY)

Chicago Capital LLC increased its stake in Workday, Inc. (NASDAQ:WDAY) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,611 shares of the software maker’s stock after acquiring an additional 5,363 shares during the period. Workday comprises about 1.6% of Chicago Capital LLC’s holdings, making the stock its 25th largest holding. Chicago Capital LLC’s holdings in Workday were worth $53,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC grew its holdings in shares of Workday by 17.6% in the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after purchasing an additional 4,865 shares during the last quarter. Assetmark Inc. grew its holdings in Workday by 9.9% in the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after acquiring an additional 1,933 shares during the last quarter. ORG Partners LLC increased its position in shares of Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the period. Bornite Capital Management LP bought a new position in shares of Workday during the fourth quarter valued at about $34,508,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Workday by 3.0% during the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

WDAY traded down $1.19 during midday trading on Friday, hitting $254.60. 2,252,079 shares of the company traded hands, compared to its average volume of 2,208,223. The company’s 50-day moving average is $232.56 and its 200 day moving average is $245.51. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $67.47 billion, a PE ratio of 45.87, a price-to-earnings-growth ratio of 5.56 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, research analysts expect that Workday, Inc. will post 2.27 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on WDAY. JPMorgan Chase & Co. reduced their price target on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Barclays upped their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Guggenheim reissued a “sell” rating and set a $190.00 price objective on shares of Workday in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada dropped their target price on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $288.15.

Insider Buying and Selling

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the transaction, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the completion of the sale, the insider now owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the sale, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The disclosure for this sale can be found here. Insiders sold 515,902 shares of company stock valued at $117,998,849 over the last 90 days. Company insiders own 20.00% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.